Candelaria Mining Announces Proposed Warrant Extension

Candelaria Mining Corp.

(TSXV:CAND, OTC PINK:CDELF) (the “

Company

”) announces that it proposes to make an application to the TSX Venture Exchange to extend the expiry dates of 12,632,398 outstanding share purchase warrants (the “

Warrants

”) by twelve months. The Company proposes to extend the expiry dates of the Warrants as follows: December 14, 2020 as to 2,888,888 warrants, January 6, 2021 as to 2,154,443 warrants, March 13, 2021 as to 777,777 warrants and February 18, 2021 as to 6,811,289 warrants.

The Warrants were originally issued pursuant to private placements completed from June to September 2016, and pursuant to the conversion of a convertible note. Each Warrant entitles the holder to purchase one common share in the capital of the Company at a price of $0.60 per share. All other terms of the Warrants will remain the same.

The warrant extension remains subject to approval of the TSX Venture Exchange.

ON BEHALF OF THE BOARD,

Curtis TurnerChief Executive Officer

For further information, please contact:

Sam Wong, CFO

Investor RelationsEmail:  [e-mail]:  604-349-5992

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.